Streaming video has actually ended up being a huge part of our lives, whether it’s watching your favorite shows on Netflix or getting live TV through Hulu or YouTube or taking a look at your favorite gamers on Twitch. But streaming is dripping into other elements of our lives, too, whether it’s physical fitness or the relocation from physical events to virtual ones.
The next frontier? For Popshop Live, it’s shopping.
Popshop Live is an e-commerce platform that uses streaming video to link both let sellers with their shoppers and offer their products in a brand-new way. The business has today revealed the close of a $3 million financing round, led by Floodgate and Abstract Ventures, with involvement from Long Journey Ventures, Cyan and Scott Banister, Shrug Capital, Backend Capital and Halogen Ventures. This brings the business’s total funding to $4.5 million.
Founded by Danielle Li, Popshop Live is a reimagining of the House Shopping Network, or QVC, for the year 2020. Private sellers, or developed stores and brand names, can get on the platform to produce and host their own programs. The item also integrates with Shopify to assist sellers manage their stock and POS throughout the program without any additional hassle.
Popshop Live supplies sellers with a playbook for best practices on running their own show. Sellers also get access to gamification features, reveal templates, real-time efficiency stats and metrics reports to give them a total picture of how their program is performing across a wide variety of information points.
Japan LA, one of the greatest stores on the platform, did more sales on Popshop Live than its offline and online sales integrated on a typical Saturday prior to the pandemic. Popshop Live informed TechCrunch that Japan LA did $17,000 in sales with more than 1,500 private checkouts in a single program. The business has even begun scheduling a part of its inventory specifically for sale through Popshop.
“What I enjoy most about our Popshop Live shows is that, with the live videos and interactive functions, I’m able to respond to consumers’ demands in genuine time, such as adding any products that the audience sees in the program on the fly,” stated Jamie Rivadeneira, owner of Japan LA. “I also like that I’m able to bring the same energy as assisting customers face to face, but to hundreds of individuals simultaneously.”
She included that Japan LA is considering establishing a dedicated studio area for Popshop Live shows.
Popshop Live 1 minutes reel from Popshop on Vimeo. Sellers can share the link to their show on their social platforms or on
their website and direct shoppers to the platform. When users are on the platform they can search other shows that they may be thinking about. Cyan Banister, a financier in the platform, also began her own program to offer stuff she had sitting around in her home. She selected to provide the earnings to charity and matched all sales through her program. In total, she offered $8,000 worth of stuff, and with the matching, gave $16,000 to charities.
I asked Banister if the pandemic, which has actually stalled offline retail sales considerably, had any impact on her decision to invest in Popshop Live.
“No,” said Banister concisely. “What Danielle is building can shine in or out of a pandemic. It might have been more difficult to get clients on board, so in a pandemic she takes advantage of that because all of these shops need a method to sell their items.”
Banister included that it exceeds offering organisations a brand-new method to offer their products, as both buyers and sellers are finding a community within Popshop Live.
The Popshop Live group includes 17 individuals, with 70% people of color and 40% ladies.
The app is available and presently invite-only on iOS. Nevertheless, readers can download the app here using the code “TECH20.” Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.